Pennsylvania Entrepreneur Secures Financing to Buy Little Gym Franchise

Borrowing money to invest in a Little Gym franchise? Lafayette Ambassador Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Bethlehem, Pennsylvania and are interested in buying a Little Gym franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Lafayette Ambassador Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

LITTLE GYM
BETHLEHEM, PA 18020

SBA Loan Lender

LAFAYETTE AMBASSADOR BANK
360 NORTHAMPTON ST
EASTON, PA 18020

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721214 - Recreational and Vacation Camps

Loan Approval Date

8/16/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Little Gym franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Lafayette Ambassador Bank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Accountant's Role in Securing Financing

SBA Banks in Easton, Pennsylvania

SBA Pennsylvania Lenders